The Realest Post You Will Read All YearWhy you should care to listen to this.
I first discovered crypto in 2013, but my initial encounter with Bitcoin dates back to 2009. At the time, I dismissed a considerable amount of Bitcoin as a trivial payment for a World of Warcraft private game server admin position. However, in 2011, I was reintroduced to Bitcoin and purchased a significant amount for $10. Unfortunately, after losing my father and misplacing the hard drive containing my Bitcoin during his eviction, I was filled with regret by 2013. Now, I can look back and laugh at those experiences, as they led me to see a much bigger picture. Bitcoin operates in cycles, and it's easy to get caught up in the present moment, listening to influencers claiming that it's all over for the sake of views on their channels. I'm here to explain the true nature of the market, hoping to provide you with a sense of clarity and liberation.
A few years ago, Warren Buffet's quote, "Buy when there's blood in the streets, even if the blood is your own," was as ubiquitous as the definition of insanity. Despite its overuse, the quote held true. However, when faced with reality, people still tend to act on fear. Market cycles are influenced by fear, as seen in the news, lunar cycles, and retrogrades' gravitational waves. It is fascinating how the market operates based on these factors.
There are two fundamental human emotions: fear and love. Everything can be traced back to these emotions in one way or another. Our minds are wired to respond strongly to fear, which is why our reality often revolves around it. Trading on higher timeframes can be easier for some because it doesn't require constant attention to the cyclical nature of the market.
I have previously mentioned that this recurring cycle will happen once more before the market undergoes a significant change. Currently, there is widespread fear of banks failing, but if we look at history, such events were never anticipated. The 2008 crash began just after reaching all-time highs.
In the market, traders often encounter psychological tactics employed by market makers to influence their actions. Emotionless trading is essential to navigate these tactics. By utilizing basic technical analysis one can anticipate market movements, as demonstrated in my earlier idea from last year (I will link to it for reference).
Many people in the market cannot afford to trade their $100 or $1000, but they would fare better if they identified promising opportunities and left their investments to grow while they worked on increasing their account balance. High-margin trading, is akin to gambling. I have lost significant amounts in high-margin trades, watching the market move to my liquidation point on one exchange while others remained unaffected.
It's crucial to understand that long-term investing generates wealth. Allocating 10% of your total balance to promising altcoins is a wise strategy. Focus on consistently investing in cryptocurrencies and stocks while working hard, and you'll see success. Betting on the unlikely scenario of the US dollar failing and causing societal collapse isn't productive.
I predict that Bitcoin will experience an upward wave for a few months, followed by a retracement of that wave, and then gradually work its way up to all-time highs, just like in previous cycles. This may be difficult to visualize amid the world's turmoil, but adopting a month-by-month approach rather than an hour-by-hour one can provide clarity.
Stay resilient and maintain a clear mind. You can't turn $100 into a million dollars in two days. Instead, work hard, save, and invest gradually in the market. The best advice is to earn $10,000 to $100,000 from the market and then start your own business.
Remember, this is just my opinion, and I hope it helps. Bitcoin has repeatedly defied predictions of continuous decline. While it's possible we could see a drop to $12,000 - $13,000 due to a black swan event, similar to March 2020, it's not worth waiting idly for that moment. Choose the long route; your life will still be here in two years, and impulsively risking everything won't bring lasting change.
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Take care and remember to invest wisely, focusing on long-term growth rather than seeking immediate results. Slowly add to your investments with each paycheck, and avoid waiting for the "perfect" price. If you listen to anything I have to say, remember this: the right time to start investing is now.
